CIGNA (CI) Coverage Initiated by Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of CIGNA (NYSE:CI) in a research report sent to investors on Wednesday morning. The firm issued a neutral rating and a $247.00 target price on the health services provider’s stock.

CI has been the topic of several other research reports. Morgan Stanley upped their price target on CIGNA from $195.00 to $223.00 and gave the stock an overweight rating in a research note on Friday, November 3rd. Royal Bank of Canada restated an outperform rating and issued a $220.00 price target (up previously from $185.00) on shares of CIGNA in a research note on Friday, November 3rd. Jefferies Group upped their price target on CIGNA from $201.00 to $221.00 and gave the stock a buy rating in a research note on Friday, October 13th. Credit Suisse Group began coverage on CIGNA in a research note on Thursday, November 2nd. They issued an outperform rating and a $219.00 price target on the stock. Finally, Citigroup upped their price target on CIGNA from $198.00 to $231.00 and gave the stock a buy rating in a research note on Friday, November 3rd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $205.18.

CIGNA (CI) traded up $1.08 during mid-day trading on Wednesday, hitting $207.04. The company’s stock had a trading volume of 888,600 shares, compared to its average volume of 1,122,433. CIGNA has a 1 year low of $133.52 and a 1 year high of $212.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $51,720.00, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.41 and a beta of 0.51.

CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, November 2nd. The health services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.47. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.17 billion. CIGNA had a return on equity of 18.85% and a net margin of 5.74%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 EPS. research analysts forecast that CIGNA will post 10.34 earnings per share for the current year.

In related news, insider Michael W. Triplett sold 10,417 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $197.77, for a total value of $2,060,170.09. Following the transaction, the insider now directly owns 32,347 shares of the company’s stock, valued at approximately $6,397,266.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mary T. Hoeltzel sold 575 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $197.03, for a total value of $113,292.25. Following the completion of the transaction, the chief accounting officer now directly owns 2,499 shares in the company, valued at $492,377.97. The disclosure for this sale can be found here. Insiders sold a total of 34,936 shares of company stock worth $6,979,204 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Saratoga Research & Investment Management bought a new position in shares of CIGNA during the 3rd quarter valued at $112,000. Riverhead Capital Management LLC lifted its holdings in shares of CIGNA by 159.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,511 shares of the health services provider’s stock valued at $923,000 after buying an additional 3,386 shares during the period. Norinchukin Bank The lifted its holdings in shares of CIGNA by 6.4% during the 2nd quarter. Norinchukin Bank The now owns 17,766 shares of the health services provider’s stock valued at $2,974,000 after buying an additional 1,062 shares during the period. Seven Eight Capital LP lifted its holdings in shares of CIGNA by 504.4% during the 2nd quarter. Seven Eight Capital LP now owns 27,200 shares of the health services provider’s stock valued at $4,553,000 after buying an additional 22,700 shares during the period. Finally, South State Corp bought a new position in shares of CIGNA during the 2nd quarter valued at $502,000. 87.74% of the stock is currently owned by institutional investors and hedge funds.

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About CIGNA

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

Analyst Recommendations for CIGNA (NYSE:CI)

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